MADEVI: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MADEVI
Largest movements
- Receivables within one year +€3,672
up €3,672 (+8.3%), from €44,002 to €47,674
of which Trade receivables: +€3,447
- Tangible fixed assets +€1,034
new in 2026: €1,034
- Reserves +€10,594
up €10,594 (+30.5%), from €34,684 to €45,278
- Other debts -€7,614
down €7,614 (-37.5%), from €20,310 to €12,696
- Trade debts +€1,636
up €1,636 (+154.5%), from €1,059 to €2,696
- Gross operating margin +€685
up €685 (+4.5%), from €15,290 to €15,976
- Financial charges +€378
up €378 (+228.3%), from €166 to €544
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,705 | €84,205 | +€4,500 | +5.6% |
| Fixed assets | 21/28 | - | €1,034 | +€1,034 | |
| Tangible fixed assets | 22/27 | - | €1,034 | +€1,034 | |
| Plant, machinery and equipment | 23 | - | €1,034 | +€1,034 | |
| Current assets | 29/58 | €79,705 | €83,171 | +€3,466 | +4.3% |
| Amounts receivable within one year | 40/41 | €44,002 | €47,674 | +€3,672 | +8.3% |
| Trade receivables | 40 | €44,002 | €47,449 | +€3,447 | +7.8% |
| Other amounts receivable | 41 | €0 | €224 | +€224 | |
| Cash at bank and in hand | 54/58 | €35,703 | €35,497 | -€205 | -0.6% |
| Total equity and liabilities | 10/49 | €79,705 | €84,205 | +€4,500 | +5.6% |
| Equity | 10/15 | €54,684 | €65,278 | +€10,594 | +19.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €34,684 | €45,278 | +€10,594 | +30.5% |
| Distributable reserves | 133 | €34,684 | €45,278 | +€10,594 | +30.5% |
| Amounts payable | 17/49 | €25,021 | €18,927 | -€6,094 | -24.4% |
| Amounts payable within one year | 42/48 | €25,021 | €18,927 | -€6,094 | -24.4% |
| Trade debts | 44 | €1,059 | €2,696 | +€1,636 | +154.5% |
| Suppliers | 440/4 | €1,059 | €2,696 | +€1,636 | +154.5% |
| Taxes, remuneration and social security | 45 | €3,651 | €3,535 | -€116 | -3.2% |
| Taxes | 450/3 | €3,651 | €3,535 | -€116 | -3.2% |
| Other amounts payable | 47/48 | €20,310 | €12,696 | -€7,614 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €5 | +€5 | |
| Other operating charges | 640/8 | €1,204 | €1,233 | +€29 | +2.4% |
| Gross operating margin | 9900 | €15,290 | €15,976 | +€685 | +4.5% |
| Operating profit (loss) | 9901 | €14,086 | €14,738 | +€652 | +4.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €166 | €544 | +€378 | +228.3% |
| Recurring financial charges | 65 | €166 | €544 | +€378 | +228.3% |
| Profit (loss) for the period before taxes | 9903 | €13,921 | €14,195 | +€274 | +2.0% |
| Income taxes | 67/77 | €3,473 | €3,601 | +€128 | +3.7% |
| Profit (loss) for the period | 9904 | €10,448 | €10,594 | +€146 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,448 | €10,594 | +€146 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.